A 50 percent jump in shipments of DRAM chips in terms of memory capacity, as well as cost cuts, helped Elpida return to the black from a net loss of 178.9 billion yen a year earlier, the company said in a statement.

Elpida's estimated net profit tops the average forecast for a net loss of 4.5 billion yen in a poll of 17 analysts by Thomson Reuters I/B/E/S.

It also said it will likely report an operating profit of 26 billion yen for the year ended in March, compared with an operating loss of 147.4 billion yen a year earlier.

Shares of Elpida shot up 4.2 percent to 2,095 yen in early trading on Wednesday.

Elpida will report final results on May 15.

By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved